Stripes Blockchain Offshoot Secures 500 Million
Tempo has emerged as one of the most valuable new players in the blockchain payments space. The Stripe-incubated project raised 500 million in a Series A funding round led by Thrive Capital and Greenoaks, according to Fortune.
The round values Tempo at roughly 5 billion and saw participation from Sequoia Capital, Ribbit Capital, and SV Angel. Interestingly, Stripe and Paradigm both incubators of Tempo did not participate in the raise.
This new funding reinforces Stripes long-term ambition to integrate blockchain technology into mainstream financial infrastructure. The fintech company, valued at 92 billion, has been steadily expanding its crypto strategy over the past year.
